Back home, after a splendid week in France. I was listening to new cds, late in the night in the hotel room, while the family was sleeping. Among these, a masterpiece : the biggest accordionist of our time, the French Richard Galliano meets the best vibraphonist, Gary Burton, in a superb duet. Piazzola transported in Europe, with spirit, intelligence and sensibility. A must have cd.
Only these three for today. Preparing for a 7-days trip to France with family.Hope we will not blocked there because of the strikes.. So no trades next week, as I never trade via an unsecure hotel connection.
My 5' clock session. Two good trades and then five unnecessary ones. I had all the pips i needed and then I continued, to follow price further down. Consolidation gave minor losses and more conmmission expenses.
The only ennemy of my method is named overtrading. Overtrading means gambling attitude. The ennemy is inside me.
The trend was strong but this is easier to confirm afterwards. When in action, and because I trade with big lots, I prefer to have tight stops and multiple entries/exits. High volatility means also deep retracements. I can't afford to go long and then get a retracement of 40 pips in the face, praying for the price to go up again. Act like a sparrow: one little piece at a time, again and again.
One loss while in the range and then the big shot, on the move down . Followed by two additional moves. The entry on the third was terribly late and as a result the trade became vulnerable and was saved in extremis from a big loss, as the violent correction came immediately after my exit.
"When i trade at home, I often watch the sparrows in my garden. When I feed them bread, they take just a little piece at a time and fly away.They keep on flying back and forth, taking small bits of bread. You will never be able to shoot a sparrow, it is just too fast. That is the way I day trade". M. Weinstein.
"Μηδείς αγεωμέτρητος εισίτω μοι την θύραν". Plato
"Toute lucidité est la conscience d'une perte". E. Cioran
There is nothing to sell on this blog. No signals, no "systems" for sale. Just my trading plan and the recording of my trades on eur/usd and the fx euro future recently. And the books, the music, the films I like.
The Forexbird is a professional currency trader. He is also photographer and engineer, a maths and music addict and curious about everything.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The author is not liable for any loss or damage which may arise directly or indirectly from the content of this website.